2022 Q1 Form 10-Q Financial Statement
#000149315222013013 Filed on May 12, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $1.744M | $2.367M |
| YoY Change | -26.29% | 30.75% |
| Cost Of Revenue | $1.654M | $2.022M |
| YoY Change | -18.2% | 49.77% |
| Gross Profit | $90.51K | $344.6K |
| YoY Change | -73.74% | -25.08% |
| Gross Profit Margin | 5.19% | 14.56% |
| Selling, General & Admin | $1.563M | $917.6K |
| YoY Change | 70.31% | -27.17% |
| % of Gross Profit | 1726.65% | 266.28% |
| Research & Development | $138.9K | $112.6K |
| YoY Change | 23.33% | -19.54% |
| % of Gross Profit | 153.49% | 32.69% |
| Depreciation & Amortization | $8.560K | $18.38K |
| YoY Change | -53.43% | -38.73% |
| % of Gross Profit | 9.46% | 5.33% |
| Operating Expenses | $1.702M | $1.030M |
| YoY Change | 65.17% | -26.93% |
| Operating Profit | -$1.611M | -$685.7K |
| YoY Change | 134.99% | -27.83% |
| Interest Expense | $3.260K | -$720.00 |
| YoY Change | -552.78% | -92.8% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $185.0K | |
| YoY Change | ||
| Pretax Income | -$1.423M | -$793.4K |
| YoY Change | 79.35% | -15.6% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$1.423M | -$793.4K |
| YoY Change | 79.35% | -15.6% |
| Net Earnings / Revenue | -81.57% | -33.52% |
| Basic Earnings Per Share | -$0.41 | |
| Diluted Earnings Per Share | -$307.8K | -$503.1K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 4.622M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $22.03M | $3.271M |
| YoY Change | 573.58% | 1621.65% |
| Cash & Equivalents | $22.03M | |
| Short-Term Investments | ||
| Other Short-Term Assets | $1.774M | $2.065M |
| YoY Change | -14.06% | 986.63% |
| Inventory | $1.006M | $519.2K |
| Prepaid Expenses | ||
| Receivables | $191.0K | $26.73K |
| Other Receivables | $50.76K | $0.00 |
| Total Short-Term Assets | $25.06M | $5.882M |
| YoY Change | 326.0% | 219.65% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $617.7K | $436.7K |
| YoY Change | 41.43% | -40.17% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $14.75K | $8.060K |
| YoY Change | 83.0% | -83.88% |
| Total Long-Term Assets | $1.265M | $1.083M |
| YoY Change | 16.84% | -23.74% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $25.06M | $5.882M |
| Total Long-Term Assets | $1.265M | $1.083M |
| Total Assets | $26.32M | $6.965M |
| YoY Change | 277.93% | 113.64% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $729.0K | $860.1K |
| YoY Change | -15.24% | -56.12% |
| Accrued Expenses | $855.7K | $1.247M |
| YoY Change | -31.36% | 189.93% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $7.107M | $8.231M |
| YoY Change | -13.65% | 131.86% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $514.9K |
| YoY Change | -100.0% | |
| Other Long-Term Liabilities | $459.5K | $144.0K |
| YoY Change | 219.15% | -58.87% |
| Total Long-Term Liabilities | $459.5K | $658.9K |
| YoY Change | -30.26% | 88.25% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $7.107M | $8.231M |
| Total Long-Term Liabilities | $459.5K | $658.9K |
| Total Liabilities | $7.567M | $8.890M |
| YoY Change | -14.88% | 128.53% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $18.75M | -$1.925M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $26.32M | $6.965M |
| YoY Change | 277.93% | 113.64% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$1.423M | -$793.4K |
| YoY Change | 79.35% | -15.6% |
| Depreciation, Depletion And Amortization | $8.560K | $18.38K |
| YoY Change | -53.43% | -38.73% |
| Cash From Operating Activities | $192.9K | $484.4K |
| YoY Change | -60.18% | -166.35% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$13.95K | -$12.33K |
| YoY Change | 13.14% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$13.95K | -$12.33K |
| YoY Change | 13.14% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $22.00M | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 19.70M | 514.2K |
| YoY Change | 3730.25% | |
| NET CHANGE | ||
| Cash From Operating Activities | 192.9K | 484.4K |
| Cash From Investing Activities | -13.95K | -12.33K |
| Cash From Financing Activities | 19.70M | 514.2K |
| Net Change In Cash | 19.87M | 986.2K |
| YoY Change | 1915.13% | -235.1% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $192.9K | $484.4K |
| Capital Expenditures | -$13.95K | -$12.33K |
| Free Cash Flow | $206.8K | $496.7K |
| YoY Change | -58.36% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | us-gaap |
Preferred Stock Value
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| CY2021Q4 | us-gaap |
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| CY2022Q1 | us-gaap |
Income Tax Expense Benefit
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| CY2021Q1 | us-gaap |
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| CY2021Q1 | CEAD |
Convertible Preferred Stock Converted To Securities
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| CY2021Q1 | CEAD |
Deemed Dividend Preferred Stock On Down Round
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Common Stock Issued For Other Expense
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Provision For Doubtful Accounts
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Gain Loss On Disposition Of Assets
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Increase Decrease In Interest Payable Net
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Increase Decrease In Lease Deposit
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Increase Decrease In Deferred Compensation Accrued Equity Compensation
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| CY2021Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
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| CY2021Q1 | CEAD |
Payments For Redemption Of Preferred Stock
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Cash Proceeds From Sale Of Preferred Stock And Warrants Net Of Issuance Costs
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| CY2022Q1 | us-gaap |
Proceeds From Notes Payable
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| CY2022Q1 | us-gaap |
Interest Paid Net
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| CY2021Q1 | us-gaap |
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| CY2021Q1 | CEAD |
Noncash Investing And Financing Activities Conversion Of Series B Preferred Stock
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| CY2021Q1 | CEAD |
Noncash Investing And Financing Activities Deemed Dividend Preferred Stock Arising On Down Round
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| CY2022Q1 | CEAD |
Remaining Performance Obligations Related To Engineering Only Paid Contracts
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Class Of Warrant Or Right Exercised
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Class Of Warrant Or Right Expired
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Class Of Warrant Or Right Expired Aggregate Intrinsic Value
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| CY2022Q1 | CEAD |
Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Issued Weighted Average Remaining Contractual Terms
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P58M | |
| CY2022Q1 | CEAD |
Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Outstanding Weighted Average Remaining Contractual Term
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P58M | |
| CY2022Q1 | CEAD |
Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Outstanding Weighted Average Remaining Contractual Term
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P58M |
